Impact of Ownership Characteristics on Modified Audit Opinion in Jordan
International Journal of Accounting, Finance and Risk Management
Volume 4, Issue 3, September 2019, Pages: 81-93
Received: Jun. 7, 2019; Accepted: Jul. 4, 2019; Published: Jul. 30, 2019
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Authors
Saleh Zaid Alkilani, Othman Yeop Abdullah Graduate School of Business, Universiti Utara Malaysia, Sintok, Malaysia
Wan Nordin Wan Hussin, Othman Yeop Abdullah Graduate School of Business, Universiti Utara Malaysia, Sintok, Malaysia
Basariah Salim, Tunku Intan Shafinaz Accounting School, Universiti Utara Malaysia, Sintok, Malaysia
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Abstract
It is well established that ownership characteristics are impacted by the quality of financial reporting. The purpose of this work is to examine the role of ownership characteristics in minimising the prospect of corporates obtaining a modified audit opinion in Jordan. Three ownership characteristics [family ownership (FAOWN), institutional ownership (INOWN) and foreign ownership (FAOWN)] and modified audit opinion were studied. The study used 117 samples of corporates listed on the Amman Stock Exchange (ASE). Logistic regression was employed to analyse the association between the modified audit opinions as a dependent variable and ownership characteristics as independent variables. Ownership characteristics are anticipated to be more successful in improving the quality of financial statement, and thus, reduce the prospect of firm obtaining a modified audit opinion. The analysed results from 2012 to 2016 periods of these corporates in Jordan showed that FAOWN and FOOWN validated this projection. Interestingly, the effect of family and FOOWN improve the quality of financial statement, thereby, reduce the cases of a modified audit opinion. Additionally, the study could not find any association impact between the INOWN and modified audit opinion.
Keywords
Modified Audit Opinion, Ownership Structure, Family Ownership, Institutional Ownership, Foreign Ownership
To cite this article
Saleh Zaid Alkilani, Wan Nordin Wan Hussin, Basariah Salim, Impact of Ownership Characteristics on Modified Audit Opinion in Jordan, International Journal of Accounting, Finance and Risk Management. Vol. 4, No. 3, 2019, pp. 81-93. doi: 10.11648/j.ijafrm.20190403.11
Copyright
Copyright © 2019 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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